Nonghyup Bank Expands Financial Support for Semiconductor-Specialized City Development

[Financial News] Nonghyup Bank is providing financial support for the development of a semiconductor-specialized city and the revitalization of the local economy. It plans to continue offering comprehensive support, ranging from corporate financing to the development of local talent.
Financial sector sources said on the 22nd that Nonghyup Bank visited Gwangju City Hall in Jeonnam-Gwangju Integrated Special City on the 21st, held a meeting with Mayor Min Hyung-bae, and announced a comprehensive financial support plan.
Nonghyup Bank plans to strengthen financial support for the successful development of the Semiconductor Cluster, a key priority for Jeonnam-Gwangju Integrated Special City, and for the stable settlement of local companies and talent. In particular, it will introduce preferential financial programs for companies moving into the Semiconductor Cluster, including eased loan screening requirements and higher recognized collateral ratios. The bank will also provide tailored financial services, such as asset management programs for employees, to support the companies' establishment in the region.
Financial support for small and medium-sized enterprises and small business owners, the foundation of the local economy, is also being expanded. Loans exclusively for small and medium-sized enterprises and small business owners, launched last July, carry an additional preferential interest rate of 0.4%; so far, 174 cases totaling 37.4 billion won have been supported. Through 5 billion won in special contributions to guarantee institutions, the bank is providing loans worth approximately 125.7 billion won. It is also supporting the growth of local small business owners by operating the NH Growth Donghaeng Center and providing 132 cases of specialized consulting this year alone in areas including startups, management and taxation.
The bank is also helping develop local talent who will lead future industries. On the 21st, Nonghyup Bank donated 300 million won in scholarships to foster future talent in semiconductors and artificial intelligence (AI). The funds will be used to support the studies of local middle and high school students and university students, as well as to train professionals who will lead advanced industries such as semiconductors and AI.
Kang Tae-young, president of Nonghyup Bank, said, "To successfully develop the Semiconductor Cluster and help the regional industry take a leap forward, we must foster local talent who will lead future industries alongside providing financial support to companies. Nonghyup Bank will actively support the successful development of the Semiconductor Cluster in Jeonnam-Gwangju Integrated Special City and continue expanding financial and educational support so that companies and talent can establish themselves securely in the region."

[email protected] Seo Ji-yoon Reporter